LDN20110711DC
At a recent Adelaide Metcalfe Council meeting, a presentation was made regarding the preliminary year-end surplus for fiscal year 2023, along with recommendations for reserve fund transfers. The township concluded the year with a surplus of $161,510, attributed to several factors such as under-budget project completions, deferred projects, additional revenue from tax-supported departments, and increased funding from other government levels.
The report emphasized a decrease in the annual surplus compared to previous years, signaling improved budget control and financial accuracy, partially attributable to the adoption of zero-based budgeting. In accordance with the township’s reserve and reserve fund policy, it was recommended to allocate the surplus to various reserve funds including significant contributions to the Legal Reserve Fund, the Tax Rate Stabilization Reserve Fund, the Kerwood Wastewater Capital Reserve, among others. Council approved the recommendations.
Written by: C. Soares
